PTC India wind power sale attracts Hero, Macquarie, CLP

PTC India wind power sale attracts Hero, Macquarie, CLP

KPMG will manage sale of PTC India’s 290MW of wind power projects spread across Madhya Pradesh, Karnataka and Andhra Pradesh

New Delhi: The Indian arm of CLP Holdings Ltd, Macquarie Infrastructure and Real Assets (MIRA) and Hero Future Energies are among the companies that are interested in acquiring PTC India Ltd’s wind power businessthat may be valued at around ₹2,000 crore, two people aware of the development said.

“KPMG is advising PTC for finding a suitable strategic investor for participation in its subsidiary PTC Energy Ltd’s business. At this point of time, we will not be able to comment beyond this,” a PTC India spokesperson said in an emailed response.

CLP India Pvt. Ltd’s interest in PTC’s wind assets follows Canada’s second largest pension fund CDPQ buying a 40% stake in it for HK$2.9 billion (about $370 million). With 1,000MW, CLP India, the local arm of the Hong Kong-listed company, has one of the largest wind power portfolios in the country. It also has an installed capacity of 2,000MW from coal, gas, and solar projects. Mint reported on 19 January 2018 about CDPQ’s interest in acquiring a stake in CLP India.

Spokespeople for Macquarie and Hero Future Energies declined to comment.

CLP Holdings, founded in 1901 as China Light and Power Co. Ltd in Hong Kong, is among the two significant overseas entrants in India’s power generation sector along with US-based AES Corp. It had articulated its intent in 2012 to withdraw its India operations, but later changed its plans.

MIRA has also evinced interest in acquiring the renewable energy business of crisis-hit Infrastructure Leasing and Financial Services (IL&FS) where other potential investors include ReNew Power Ventures Pvt. Ltd, GAIL (India) Pvt. Ltd, and Solar Energy Corp of India Ltd.

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